Don Eduardo Cocina Mexicana to lease corner at Park & King in Riverside
Posted by Eder Bonilla on
From: Jaxdailyrecord
Don Eduardo Cocina Mexicana, a new concept from the owners of Cinco de Mayo restaurants, intends to open this fall at 2665 Park St., at northwest King and Park streets in Riverside.
It will be one of several new tenants at the property, now called Park & King, which changed hands in March.
The property is represented by The Urban Division of the Colliers commercial real estate company.
The division comprises Colliers Senior Vice President Matthew Clark and associates Sam Middlekauff and Olivia Steinemann.
Don Eduardo will lease almost 5,000 square feet of space.
The restaurant location
Don Eduardo will be the fifth restaurant concept in the corner Park and King space in 14 years since Carter’s Pharmacy closed in 2009.
“The owners of Don Eduardo’s currently operate several restaurants in the greater Jacksonville area and are thrilled to bring their new upscale concept, Don Eduardo Cocina Mexicana, which is an authentic and gourmet Mexican dining experience along with hand crafted cocktails, to Riverside,” said a statement from the ownership group through Colliers.
“We can’t wait to open our doors to you this fall,” says its website, doneduardococina.com.
The Urban Division, Colliers.
“Featuring a vibrant ambiance in a picturesque location, Don Eduardo’s will provide the perfect backdrop for indulging in authentic Mexican cuisine and hand-crafted cocktails.”
The restaurant is a concept of the Rodolfo and Maria Torres-Leon Family, which operates five Cinco de Mayo locations in Northeast Florida.
“Our passion is to bring the love of family, friends and good times to your dining experience through the recipes and traditions brought with our family from Jalisco, Mexico. Perfected over time, it is our pleasure to provide authentic meals, lovingly created, using the freshest produce and ingredients for your dining pleasure,” says its cincodemayomx.com site.
The site says the family began its Jacksonville restaurant development in 2009.
“Starting with one restaurant established in the early days of the Jacksonville Landing, we built on that foundation to expand to four - soon to be five - restaurants in the greater Jacksonville area. From our family to yours - we welcome you and hope you find our restaurants to be your “home away from home.”
State corporate records show that Maria E. Leon is president and Rodolfo Torres Gonzales is vice president of president Don Eduardo Cocina Mexicana Corp.
They are based in St. Augustine.
The Urban Division, Colliers.
They registered the name with the state March 9, 2023, at 2665 Park St.
They also registered Cantina Cinco de Mayo Mexican Grill Corp. on Dec. 12, 2022, at 11101 Old St. Augustine Road.
The Park and King restaurant space most recently was One Bar & Lounge, a bar, tapas and hookah lounge that opened in spring 2020. Its Facebook page said April 26, 2023, it had closed and was moving.
One Bar took over the space from Two Dudes, a seafood restaurant that operated there from September 2018 to early 2020.
Before that, it was Il Desco Italian restaurant from November 2015-January 2018.
The space started its restaurant use as Pele’s Wood Fire Grill in 2012 three years after Carter’s Park & King Pharmacy closed.
A Dec. 3, 2016, Resident Community News Group Inc. obituary for William “Bill” Carter said he opened the pharmacy at Park and King Streets in 1986; it closed in 2009. He died Oct. 18, 2016. He also had a pharmacy in Ortega.
New ownership
On March 30, 2023, an Orlando real estate company bought the high-profile corner with new tenants and plans to update the space.
Red Bell Partners paid $4.6 million for the property.
Through Blanding Outparcel LLC, Red Bell bought 2665 Park St. and 1269 King St. from the estate of Leighton Adair Butts, which sold the properties through ARD P&K LLC.
The property totals 18,775 square feet.
The Park Street property was built in 1942 and the King Street structure was built in 1967.
Red Bell Partners is a 30-year-old real estate company involved with investment, development and property management, according to its website.
Clark brokered the deal.
“The new owner is from Orlando and he has projects in its historic area and sees a lot of similarities in this area of Jacksonville,” Clark said April 4.
Upon the purchase, tenants in the building at Park and King included One Bar & Lounge, Keg & Coin, Glenn Certain Floral Design Studio and two empty units.
Keg & Coin, an arcade that sells craft beer, and Glenn Certain Floral Design Studio will remain in their locations, Clark said.
One Bar & Lounge will move, he said.
Another available property is next to One Bar & Lounge on King Street. It is 1,963 square feet and formerly had been a coffee shop.
BOTE moving in
BOTE, a recreational outdoor outfitter specializing in standup paddleboards, will lease the 3,890-square-foot space next to the florist on Park Street.
BOTE is owned by Corey Cooper of Destin. There are five BOTE stores with locations in Fort Walton Beach, Grayton Beach, Destin, St. Petersburg and Fort Lauderdale. Its products also are sold in sporting goods stores.
Glenn Certain Florals leases 5,927 square feet; Keg & Coin leases 2,273 square feet; and Don Eduardo leases 4,722 square feet.
Middlekauff said the new ownership of the building will begin building renovations soon along with the new tenant build-outs “as we work to revamp this historic corner in Riverside.”
Clark said in April the properties had been renting for below the current market rate of $35 per square foot. Rents now include that base rate plus a payment for taxes, insurance and maintenance of common spaces.
The new owner wants to work with Riverside Avondale Preservation to see whether some modifications can be made to energize the historic commercial property, Clark said.
For example, the restaurant space has high windows facing the street dating back to when it was a pharmacy. The buyer wants to remodel those to offer a better view of street activity, Clark said.
The buyer also would like to add outdoor and patio dining to the restaurant space.
Parking at issue
Parking has been a concern for businesses at the location, Clark said.
Colliers is working with Riverside Church at Park & King to use up to 60 spaces when not needed by the church. There are 150 street parking spots shared by businesses in the district.
The Colliers brochure says the neighborhood is one of the Top 10 ZIP codes for the millennial generation in the country.
“The 32204 ZIP code has seen a 45% increase in millennials over the past five years surpassing any ZIP code in Miami or Orlando. Nationally, 32204 ranks #6 out of the 30 largest cities in the United States, placing Riverside among the top 10 neighborhoods in the country.”
The brochure says that with home prices reaching up to $5 million, weekly arts and cultural events “and no shortage of green space,” residents and visitors “flock to Riverside for entertainment, food and relaxation.”
The brochure says that as of 2021, population was almost 13,340 within a mile and almost 75,330 within 3 miles.
The daytime population of residents, workers and visitors topped 19,110 within a mile and was almost 132,400 within 3 miles.
Average household income within 1 mile was $87,000, and $72,400 within 3 miles.